finance

SolarEdge interim CEO Ronen Faier has spoken about the closure of the company’s utility-scale battery storage manufacturing business.

Australia’s Global Power Generation (GPG) has secured an AU$2.3 billion (US$1.49 billion) financing facility to support the development of its 1.8GW renewable energy and storage portfolio.

Power from the project, which is under construction, will be sold to PGE under a 25-year contract and marketed through its Green Future Impact (GFI) scheme.

Matrix Renewables has secured financing for its 210MW Stillhouse Solar project, to be built in Bell County of the US state of Texas.

MA Solar Italy, a subsidiary of McLaren, acquired FIMER for an undisclosed fee amid challenges for the inverter market.

Masdar acquired 70% of Terna Energy’s outstanding shares at €20 per share, valuing the company at an enterprise value of €3.2 billion.

SolarEdge has closed its utility-scale battery storage division, resulting in a layoff of roughly 12% of its total workforce.

Speakers at LSSCEE 2024 discussed key topics for the Eastern European solar sector, including storage, private investment and risk management.

Developers in Europe signed 29 power purchase agreement deals totalling 1,277MW in October, according to Swiss analyst, Pexapark.

FTC Solar will implement a reverse stock split later this week in order to meet the US$1 minimum stock price required to list on Nasdaq.